Cowen Prime Services LLC raised its holdings in shares of Redfin Corp (NASDAQ:RDFN) by 5,625.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,500 shares of the company’s stock after purchasing an additional 112,500 shares during the period. Cowen Prime Services LLC owned approximately 0.13% of Redfin worth $2,141,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Great West Life Assurance Co. Can purchased a new position in shares of Redfin in the 2nd quarter worth $106,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Redfin in the 3rd quarter worth $139,000. Caption Management LLC bought a new position in Redfin in the 2nd quarter worth $191,000. Perkins Coie Trust Co raised its holdings in Redfin by 52.4% in the 2nd quarter. Perkins Coie Trust Co now owns 8,648 shares of the company’s stock worth $200,000 after purchasing an additional 2,972 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Redfin in the 2nd quarter worth $211,000. Institutional investors and hedge funds own 78.17% of the company’s stock.
RDFN opened at $15.60 on Wednesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -78.00 and a beta of -0.63. Redfin Corp has a 12 month low of $13.50 and a 12 month high of $31.50. The company has a quick ratio of 8.15, a current ratio of 8.57 and a debt-to-equity ratio of 0.30.
Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Redfin had a negative return on equity of 12.10% and a negative net margin of 6.88%. The company had revenue of $140.30 million during the quarter, compared to analyst estimates of $139.45 million. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue was up 28.1% on a year-over-year basis. Analysts anticipate that Redfin Corp will post -0.43 earnings per share for the current year.
In other Redfin news, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $16.05, for a total transaction of $160,500.00. Following the completion of the transaction, the insider now owns 208,449 shares in the company, valued at $3,345,606.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bridget Frey sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $19.00, for a total value of $95,000.00. Following the transaction, the insider now owns 42,758 shares of the company’s stock, valued at approximately $812,402. The disclosure for this sale can be found here. Insiders have sold 47,290 shares of company stock valued at $827,361 in the last 90 days. Company insiders own 8.80% of the company’s stock.
A number of equities analysts recently commented on RDFN shares. Cowen set a $21.00 target price on Redfin and gave the stock a “buy” rating in a report on Friday, November 9th. BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Stifel Nicolaus decreased their price target on Redfin from $25.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, August 10th. DA Davidson cut Redfin from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Friday, August 10th. Finally, Zacks Investment Research raised Redfin from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.45.
Redfin Company Profile
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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